After the big to-do over Totally Awesome Man’s press conference, I was anticipating a tremendous Senate Banking hearing for Timothy Geithner (Henceforth, he will be referred to as “Tim the T-Man”). Thus far, we know three things about Tim the T-Man: 1) he always looks constipated, 2) he is unable to do his own taxes, and 3) he is not proficient at conveying information.
Though these characteristics give me a severe case of the underwhelms, I am willing to stick it out to see what the minister of money has up his sleeve. Yesterday, however, left me feeling like I deserved a refund from some clown at the circus.
The issue that remains is, what is our plan? The bad boys of Wall Street certainly weren’t given any reason to drive the markets upward (a recurring theme, I predict), and the resultant stampede of wealth from a market already on life support transpired. The ranking member of the Senate Banking Committee, U.S. Senator Richard Shelby, R-AL, felt the lack of information produced by Tim the T-Man was a waste of the Committee’s time. I agree.
What do we know about our plan? Act hurt. Act like you need the money, and Totally Awesome Man will likely give it to you. That is, if you have the right lobbying connections to the new government. If the golf cart industry can get $300 million for “green” carts, surely you can get a couple hundred million for something.